6 Duke Street, Princes Risborough, HP27 0AT

The premises comprises a mid terrace ground floor lock up shop with rear access currently occupied by a mens barbers trading as Slattery's. There is a one bedroom flat on the first floor of the property known at Robson Cottage which is accessed via the rear of the property from New Road. The flat has an open plan kitchen and living area and benefits from a converted attic space. The property has two car parking spaces which are located at the rear of the property next to the neighbouring Henderson House and directly off New Road. INVESTMENT SUMMARY The ground floor retail unit is currently let in a personal name at a rent of £7,750 per annum for a term of 10 years from 14th May 2024. There is a tenant break option on the fifth anniversary of the term subject to six months prior written notice. There is also a rent review one month before the six month tenant break notice date. The rent review is to be based on the market rent or passing rent, whichever is the higher. The lease is inside Part II of the 1954 Landlord & Tenant Act. The flat is currently let on an AST on a periodic basis, producing an annual income of £10,800 per annum / £900 per calendar month on the understanding that the flat will always be kept reasonably clean and tidy subject to regular inspections. Should the flat not be kept in good order the rent will be £960 per calendar month. We are advised that the flat has been well maintained and £900 per calendar month has been collected recently.

Location

The property is situated in the centre of the historic market town of Princes Risborough in a prominent location just off the characterful High Street and Market Square. Princes Risborough offers a good range of shops including a M&S Foodhall, WHSmith and Costa as well as pubs and restaurants.

Accommodation

The premises comprise the following approximate Net Internal Areas: Ground Floor Retail: 36.35 sq. m / 391.27 sq. ft One Bedroom Flat: 44 sq. m / 473.61 sq. ft

Terms

Our client seeks £380,000 for their freehold interest. VAT is not applicable. DUE DILIGENCE To comply with our legal responsibilities for Anti-Money Laundering it will be necessary for the successful bidder to provide company information, identification and proof of funds before the deal is completed.